Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRolls-Royce Share News (RR.)

Share Price Information for Rolls-Royce (RR.)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 457.80
Bid: 458.50
Ask: 458.70
Change: -10.00 (-2.14%)
Spread: 0.20 (0.044%)
Open: 468.00
High: 468.20
Low: 452.60
Prev. Close: 467.80
RR. Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 1-Airline body hails Big Oil backlash as catalyst for green fuels

Fri, 28th May 2021 15:37

(Adds Airbus CEO comment, detail, background)

By Laurence Frost and Sarah Young

PARIS/LONDON, May 28 (Reuters) - The increasingly effective
green backlash against oil majors by activists and shareholders
is a welcome development for the aviation industry as it
prepares to raise its own environmental goals, the head of
global airline body IATA said on Friday.

Willie Walsh, director general of the International Air
Transport Association, said that challenges of the kind
encountered by Exxon, Chevron and Shell
this week could boost investment in the lower-emission fuels so
desperately needed by airlines.

"I think it's great that the oil industry has been
criticised. Anything that accelerates the production of
sustainable fuels is a positive," Walsh told Reuters.

Oil majors suffered a trio of defeats on Wednesday as 61% of
Chevron shareholders demanded end-use emissions cuts and Exxon
Mobil saw a pair of activist candidates elected to its board to
push climate demands. A Dutch court also ordered drastic
emissions cuts by Royal Dutch Shell.

The COVID-19 pandemic has increased the focus and pressure
on climate emissions, said Walsh, the former boss of British
Airways and its owner IAG.

Global airlines that have so far pledged to halve net
emissions by 2050 will be asked to go further at IATA's annual
meeting in October, Walsh said, confirming indications given by
his departing predecessor, Alexandre de Juniac.

Walsh said the previous 2009 goal had been overtaken by the
Paris Agreement and resulting pledges from governments and
companies - including many airlines - to eliminate net emissions
by mid-century.

"Anything less than net-zero by 2050 will be disappointing
for the industry and will leave us open to criticism that we're
not doing enough," he said while acknowledging that some states
including China still consider the target too ambitious.

Raising the aviation goal will require investment
burden-sharing by energy companies and aerospace manufacturers,
as well as removal of fuel-wasting air traffic control
inefficiencies that are particularly acute in Europe, Walsh
said.

A new push to replace Europe's airspace patchwork with a
"single European sky" has foundered on diplomatic and military
objections, a senior Brussels official said this week.

The European Union plans to require airlines to use a
minimum percentage of sustainable aviation fuels (SAF), made
from waste oil, biomass or synthetically with renewable power.

But SAF prices remain prohibitively high because the volumes
produced by fuel companies are inadequate, Walsh said.

"It shouldn't be for the airlines to fund research and
development into sustainable fuels," he said. "It should be for
the companies that are making the unsustainable fuels to start
investing."

Latest-generation jets are certified to run on anything up
to 50% SAF - a proportion that could be increased to help
aviation meet its goals until new propulsion technologies
arrive, Airbus Chief Executive Guillaume Faury told
Reuters.

The European planemaker wants to "trigger investments so
that we increase very significantly the percentage of SAF with
the planes we are delivering today," he said on Thursday.

Rolls-Royce this month announced a business jet
engine that runs on pure SAF, and sources say work is underway
to extend the capability to larger aircraft engines this decade.

Airbus has also pledged to put a hydrogen-powered airliner
into service by 2035, with technology that CEO Faury described
as "less challenging that what we saw two or three years ago".

Airlines are now counting on the Airbus hydrogen programme
to deliver, IATA's Walsh said.

"We're going to hold them to that, because it's a big part
of the solution."

(Reporting by Laurence Frost and Sarah Young
Additional reporting by Tim Hepher
Editing by David Goodman and Louise Heavens)

More News
26 Jul 2023 16:54

LONDON MARKET CLOSE: Europe falls amid pre-Fed decision caution

(Alliance News) - Blue-chip stock prices in Europe closed lower on Wednesday, as risk aversion set in ahead of a Federal Reserve interest rate decision later.

Read more
26 Jul 2023 11:51

LONDON MARKET MIDDAY: Stocks lower as eyes on US Fed's next move

(Alliance News) - Stock prices in London were lower at midday on Wednesday, following a busy morning of earnings, as well as a key interest rate decision from the US this evening.

Read more
26 Jul 2023 11:19

Rolls-Royce leaps as airline and defence demand lifts profits

Upgrades FY profit, cash flow forecasts

*

Read more
26 Jul 2023 09:01

LONDON MARKET OPEN: Trade muted; Rolls-Royce surges on higher guidance

(Alliance News) - Trading in London was muted on Wednesday morning, as investors eye a key interest rate decision from the US Federal Reserve.

Read more
26 Jul 2023 08:52

TOP NEWS: Rolls-Royce shares take off on raised annual guidance

(Alliance News) - Rolls-Royce Holdings PLC on Wednesday said financial results for the first half of 2023 and for the full year will be materially above market consensus.

Read more
26 Jul 2023 07:52

LONDON BRIEFING: Lloyds raises guidance; Rio Tinto profit down

(Alliance News) - Stocks in London are called to open lower on Wednesday, following a slew of earnings from UK companies, as well as an interest rate decision from the US Federal Reserve.

Read more
26 Jul 2023 07:04

Rolls-Royce hikes guidance after bumper first half

(Sharecast News) - Rolls-Royce surpassed market expectations in its first half, it said in an update on Wednesday, as its ongoing transformation efforts drove improved margins and bolstered its full-year outlook.

Read more
20 Jul 2023 09:47

IN BRIEF: Rolls-Royce names new finance chief, starting in August

Rolls-Royce Holdings PLC - London-based, FTSE 100-listed jet engine manufacturer - Confirms Helen McCabe as next chief financial officer, to succeed Panos Kakoullis effective August 4. Reiterates that Kakoullis will remain at Rolls-Royce until August 31; will disclose full details of his remuneration on August 7.

Read more
18 Jul 2023 15:53

Britain opens competition to develop small nuclear plants by the 2030s

LONDON, July 18 (Reuters) - Britain on Tuesday opened a competition to develop small modular nuclear reactors (SMRs), and is aiming to see them operating in the country by the early 2030's, according to energy security minister Grant Shapps.

Read more
18 Jul 2023 00:01

Britain opens small nuclear reactor competition, launches new nuclear body

LONDON, July 18 (Reuters) - Britain on Tuesday opened a competition to develop small modular nuclear reactors (SMRs), such as those being developed by Rolls-Royce, as it launched its new Great British Nuclear body designed to help drive the expansion of projects in the country.

Read more
10 Jul 2023 16:03

Godrej Aerospace targets Airbus, Boeing suppliers as India jet orders soar

MUMBAI, July 10 (Reuters) - Godrej Aerospace is in talks to build aircraft parts for suppliers to Airbus and Boeing as airlines place record jet orders, a top executive at the Indian company said.

Read more
20 Jun 2023 17:20

Miners, oil drag London stocks lower after modest China rate cut

Miners down as metal prices fall on strong dollar, China worries

*

Read more
20 Jun 2023 16:48

Paris air show: India centre stage as another big jet deal lands

Air India finalises order for 470 Airbus/Boeing jets

*

Read more
13 Jun 2023 08:45

LONDON BROKER RATINGS: Citigroup cuts Admiral Group to 'sell'

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Monday:

Read more
13 Jun 2023 07:51

LONDON BRIEFING: Higher call after surprise fall in UK unemployment

(Alliance News) - Stocks in London were set to open higher on Tuesday, after the unemployment rate in the UK unexpectedly declined in the three months to April and pay growth sped up.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.